Kotak Forex Card

Kotak Mahindra Bank · prepaid forex card · Open to buy

Kotak Mahindra Bank's multi-currency forex card on Visa: 15 currencies, a 250 issuance fee and 75 per reload, ATM fees in each currency and a 3.5% cross-currency markup, with lost-card and travel insurance.

Currencies
15 currencies: USD, EUR, GBP, AUD, SGD, CHF, HKD, CAD, NZD, JPY, SEK, ZAR, AED, SAR, THB
Cross-currency markup
3.5%
Issuance
₹250 once
Reload
₹75 at a branch, ₹75 online, ₹75
ATM withdrawal
USD 2, EUR 1.5, GBP 1.5
Valid for
5 years
Data
From bank documents, checked 6 Nov 2026

Where the sources disagree

  • Replacement fee abroad: The fees page gives USD 20, EUR 18, GBP 15, AUD 30, SGD 25, CHF 20, HKD 150, CAD 25, JPY 2950, SEK 200, ZAR 380, AED 75, SAR 75, THB 700, NZD 30; the FAQ and help page give EUR 16, GBP 13, AUD 23, JPY 2149, SEK 150, ZAR 247, AED 73, SAR 73 (no THB or NZD). We use the fees page.
  • Markup: The product page says "no hidden charges or rate markups"; the fees page and T&C give a 3.5% cross-currency markup. We use the fees page.
  • Foreign nationals: The product and eligibility pages allow foreign nationals living in India; the FAQ only those with a Kotak savings account.

Not in these numbers

  • The card is bought, reloaded and refunded at Kotak's forex card rate of the day; no margin is published, so the comparison leaves it out.
  • No inactivity, closure or declined-transaction fee is published.
  • The fees page also says a "Foreign Currency Transaction Tax" (GST at 18% on the currency-exchange value: 1% of the amount or at least ₹250 up to ₹1 lakh, ₹1,000 + 0.50% above that, ₹5,500 + 0.10% above ₹10 lakh, to a ₹60,000 cap) is charged on loading, reloading and refund; it is a tax on the exchange, not a card fee, and is not entered.
  • Not usable in India, Nepal, Bhutan and some sanctioned countries.

Sources

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